US stocks open lower; crude oil price falls again

AP News
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Posted: Jan 12, 2015 11:59 AM
US stocks open lower; crude oil price falls again

NEW YORK (AP) — Energy companies are leading a decline on the stock market as crude oil continues to tumble.

Major U.S. indexes recovered some of the ground they lost in early trading.

The Dow Jones industrial average was down 85 points, or 0.5 percent, to 17,651 as of 11:45 a.m. Eastern time Monday. The Dow was down 165 points earlier. Exxon Mobil and Chevron fell the most in the 30-stock index.

The Standard & Poor's 500 index fell 15 points, 0.7 percent, to 2,029. The Nasdaq composite fell 36 points, or 0.8 percent, to 4,667.

U.S. benchmark crude oil fell $2.03 to $46.33 a barrel in New York.

Tiffany slumped 12 percent after the jewelry retailer reported weak holiday sales.